First Citizens BancShares (NASDAQ:FCNCA) Rating Lowered to “Sell” at StockNews.com

First Citizens BancShares (NASDAQ:FCNCA) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Several other research firms have also weighed in on FCNCA. Barclays lifted their price objective on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a research note on Monday. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. UBS Group assumed coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. Wedbush reduced their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, The Goldman Sachs Group increased their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares currently has an average rating of “Hold” and a consensus price target of $2,290.75.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $2,094.00 on Wednesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $2,155.93 and a 200 day simple moving average of $1,996.00. First Citizens BancShares has a fifty-two week low of $1,363.97 and a fifty-two week high of $2,388.78. The firm has a market cap of $29.29 billion, a P/E ratio of 12.00 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter in the prior year, the business earned $55.92 EPS. Sell-side analysts predict that First Citizens BancShares will post 188.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Citizens BancShares

Institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of First Citizens BancShares in the third quarter valued at about $39,000. GAMMA Investing LLC increased its holdings in shares of First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after purchasing an additional 35 shares during the period. National Bank of Canada FI raised its position in shares of First Citizens BancShares by 17.7% in the second quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock valued at $124,000 after buying an additional 11 shares in the last quarter. Quarry LP bought a new stake in shares of First Citizens BancShares in the second quarter valued at approximately $126,000. Finally, Private Trust Co. NA grew its position in First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after buying an additional 84 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.